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Q1. A loan of $10,000.00 with interest 7.75% compounded annually is to be amortized by equal payments at the end of each year for seven
Q1. A loan of $10,000.00 with interest 7.75% compounded annually is to be amortized by equal payments at the end of each year for seven years. Find the size of the annual payments and construct an amortization schedule. Show the total paid and the cost of financing. Q2. Equal deposits are made into a sinking fund at the end of each year for seven years. Interest is 5.5% compounded annually, and the maturity value of the fund is $20,000.00. Find the size of the annual deposits and construct a sinking fund schedule showing totals
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